Thread: The chinks in the american economic recovery

Originally Posted by Matt Foley

Wow, a "progressive" talking like a supply-side'r. What is this world coming to?

I was under the impression that consumers were on the demand-side?

Originally Posted by Buddha C

Lmfao, I thought you meant the Chinese were messing with us and I was getting ready to back you against truculent pro-Chiners. Ah well, another day...

So let me get this straight if America owes the Chinese money that's bad..

However, for student loans to surpass credit card loan no problem??

Originally Posted by presluc

So let me get this straight if America owes the Chinese money that's bad..

However, for student loans to surpass credit card loan no problem??

One must read their own thread.

Originally Posted by oldreliable67

You might find this interesting. From Political Calculations:



Part of their commentary accompanying the chart:

"Here, we find that the federal government has sharply increased the amount of money it borrows for the sake of loaning it right back out to college students since 2008. Beginning in 2009, the net increase in those borrowings account for 2.9% of the entire increase in the U.S. national debt observed since 2008. That amount is above and beyond the amount directly added to the nation's total public debt outstanding by the federal government's annual budget deficits.

In this case, the disaster that would directly affect the lives of millions of people means being forced at the direction of government bureaucrats into a dramatically lower standard of living for the sake of being able to make the payments on their student loans to the U.S. federal government, without any real hope of being able to discharge that debt through bankruptcy.

That, in turn, has the real potential to indirectly hurt millions of other people, because student loan payments are rising at the rapid pace supported by the government-subsidized cost of tuition, even though college graduates are entering into jobs that pay far below what is required to both live well and to support their super-sized student loan debt. "

The source of the next crisis? Or a manageable problem?

Might want to read the first paragraph of the article again 67% of risk takers believe that delinquencies in student loans will rise.

Manageable problem or more opportunities for College grads with student loans?

Originally Posted by Diogenes

Agreed. I thought it was going to be a slam against our Department of Energy secretary.

Perhaps if the current Department of energy was graduating College in present times he too might be questioning the student loan crisis?.

NEW YORK (CNNMoney) -- Best Buy's stock took a dive on Thursday after the retailer reported quarterly results that included plans to close 50 big box stores in the U.S. by 2013.
Also, the company said it plans to open the same number of stores in China during the same time period.

I think this is relevant. If not, I'm sorry. I do think that the times are a changing ut I try not to be a harbinger of doom and gloom.

There seem to be many problems underlying the US economy. But in an election year, the USG always tries to create a positive atmosphere. Those in power wish to remain in power, regardless of political affiliation.

Just my opinion of course..

Originally Posted by UtahBill

Debt is how we enslave ourselves.....
I watched my parents live on the edge from borrowing money for things they didn't need.

Taking a hard look at expenditures is a start. Most of us are paying out lots of dollars each month for things we don't need.
Number 1 on my list is cable/satellite TV. 99% of what is shown is crap/repeats/insult to intelligence.
Get an antenna, about $40 and you can eliminate your cable/sat bill.
Land Line Telephone, if you have a cell, you probably aren't even using the land line. Cancel it.
Internet, we need it, it is the ultimate source of information, even if a lot of it is bogus. Keep it.
Dining out more than once a week is extravagant, stop it.
I could go on, essentially I am saying reduce your unnecessary bills and you will have money to pay down your debt.
It is very unlikely that the govt will forgive student loan debt, get used to it, deal with it.

Well could you talk to the Governor of Michigan about that cause even after the budget cuts even after the school closings, Michigan is still in bad financial shape and the Governor wants to build a bridge to Canada , Canada said they won't pay for it .
Yet he still wants to build a bridge to Canada?
Now I could chat with you about priorities all day long, the difference between NEED and WANT..
But what about student loans surpassing credit card loans that's something that should be addressed don't you think?

Originally Posted by Matt Foley

Those are the other chinks in the economy.

Too bad you can't edit the title.

This ain't the joke page boys.
I wouldn't be making slide remarks about China anyway, after all we Americans owe the Chinese a chunk of money.

Originally Posted by Buddha C

One must read their own thread.

I did I see no reference to the Chinese in my thread, unless you are racially motivated, or trying for a joke .
However like I said this ain't the joke thread unless you think that student loans showing up to 100, million is funny?

Originally Posted by specklebang

I think this is relevant. If not, I'm sorry. I do think that the times are a changing ut I try not to be a harbinger of doom and gloom.

There seem to be many problems underlying the US economy. But in an election year, the USG always tries to create a positive atmosphere. Those in power wish to remain in power, regardless of political affiliation.

Just my opinion of course..

As I said I consider myself an optimistic person , but being optimist between 2000, and 2012 is at best difficult at worse impossible.

Your opinion is just as valuable to me as any others, might not agree all the time but just as valuable